I am new to real estate development but would like to learn how it works through trial and error. 

Real life, finding a good mentor, and just trial and error will teach you all you need to know.

.- Judge’s decision in Trump real estate trial may have deleterious impact on NYC real estate investments.

If you give 100 bookkeepers or accountants the same list of transactions, you'll end up with 100 different charts of accounts and trial balances. 

You can learn through trial and error. 

There’s lots of trial and error involved and your first rental property will likely not be your best.

https://strhub.co/ is a good site with a calculator, not sure if you can do a free trial on there but I've used it before!

This might be a good place for trial guests until you go live, but you only renting to them is a mistake unless you are not in it for the cash flow and this is truly just a second home that you don't need to make income on. 

If you’ve interviewed people then I’d suggest you pick one of them and do a trial run with this year’s set of taxes.

The truth is, you could read 100 books and still not know enough because certain things need to be learned through trial-and-error.